OT Biden's Education Department will immediately wipe out out student loan debt for 40,000 borrowers

Because we've allowed corporations to eliminate it.

This is a small step in the right direction.

 

Honestly, it's the absolute minimum he could have done if he wanted any shot at winning at all.

Which is exactly what Biden was always going to do. As little for the middle class and poor as he possibly could while still getting reelected.

Welcome to the Democratic Party.

 

They aren't prone to poverty. That's for sure. And they make multitudes more than most people who weren't afforded the luxury of college.

 

That's true. But we need raise the rest of the poor/"middle class" to that level and higher. Not bring the people in that range down, as the current pressure is doing.

 

Isn't this just trickle down then?

"Help college grads who make more money to prevent them being poor like those without degrees?"

 

No. It's helping everybody at risk. The opposite of trickle down.

 

Well, it doesn't help those already poor and in poverty or those that are prone to poverty. It helps a select group of persons making $125k/250k year and under who already, on average, make significantly more than the rest of the population by giving them relief on the vehicle that enabled them to make more money.

 

What would be better:

Eliminating $10k from the selected population or eliminating interest payments on student loans up to $300 billion?

 

Not every plan put in place or bill passed helps every single individual equally though. Did the poor get money or debt relief when banks were bailed out? Did the poor benefit from tom bradys PPP loan relief?

 

true. I was against the bank bailouts and thought they should have failed, consequences be damned.

Brady's PPP loan paid his employees for whatever company he applied for. I'm not sure how much they make, but I'm guessing it wasn't millions of dollars.

I mean, free handouts are a daily part of life, which is why I'm not really mad at the whole thing. It's a big machine that really isn't fair and you just have to live with it.

I can see the perspective for service workers with no higher education seeing the six figure earners get $10k of debt eliminated though, while they themselves struggle.

 

It doesn't just help that select group. It helps the lower end as well. And the other provisions provided more help for them as well. raising pell grants, etc.

It wasn't a lot, but it was helpful for nearly all poor/middle class. I'm not praising him, I think a TON more could be done. And should be done. But they are all on the payroll of some company or other, so that won't happen.

 

What lower end are you referring to?

If they are college graduates, they are already in a select group. They are more educated, make more money and are more attractive to employers.

 

Schilling rightfully getting dragged in the replies

 

People getting called out on PPP forgiveness is my new favorite thing.

 

How did we pay for the Iraq and Afghanistan wars?

https://www.cbsnews.com/news/afghanistan-iraq-wars-debt-6-trillion-interest/
ncluding the cost of interest on those wars will add an additional $2.1 trillion by 2030. And through 2050, the interest alone is forecast to top $6.5 trillion — even if war spending had theoretically stopped in 2019, according to research published last year from Heidi Peltier, director of the "20 Years of War" Project at Boston University's Pardee Center for the Study of the Longer-Range Future.

We got nothing out of those wars.

https://www.nbcnews.com/business/pe...y-400-billion-covid-relief-ppp-loans-n1274618
The federal government has forgiven $394.6 billion in more than 4 million loans to businesses through the Paycheck Protection Program (PPP), according to new data published by a group of internal federal watchdogs.

Estimated cost of the student loan forgiveness id $300 billion
https://fortune.com/2022/08/23/cost-of-forgiving-10000-federal-student-loan-debt/

Seems like a fair trade.

 

It's like those of us who are going to have some loans forgiven haven't paid any fucking taxes?

 

It's basically just interest forgiveness at the end of the day anyway.